Saad Ullah
Cardano (ADA) traders are growing optimistic after months of consolidation. Recent technical analysis suggests something is shifting, and when sentiment aligns with solid chart patterns, it can signal the early stages of a new cycle.
Long-Term Chart Shows Structural Accumulation
Analyst Dan Gambardello, founder of Crypto Capital Venture, recently changed his chart's "bull market doors" from red to green, declaring that "the $ADA bull market can start now." Though playful, the technical setup behind it tells a serious story.
The chart reveals a multi-year ascending wedge with Cardano sitting inside an accumulation zone between $0.37 and $0.80. After briefly dipping below the lower trendline, ADA bounced back, showing buyers are defending the structure. Moving averages are flattening, suggesting selling pressure has eased and a base may be forming.
If ADA pushes above $0.80, the next resistance sits around $1.20. From there, projections point toward $5.50, with an ambitious target near $12 based on Fibonacci extensions from the previous bull cycle.
Key Technical Levels to Watch
- Primary support: $0.37 – $0.40
- Intermediate resistance: $0.80 – $1.00
- Breakout confirmation: Sustained move above $1.20
- Long-term targets: $5.50 to $12.15
The structure stays valid as long as ADA trades within the rising channel. A drop below $0.37 would invalidate the bullish setup.
Market Context and What It Means
Gambardello's "green doors" metaphor reflects growing sentiment that the accumulation phase might be complete. He's consistently highlighted Cardano's development progress, including Plutus upgrades, expanding DeFi, and scalability improvements that strengthen ADA's position as a layer-1 competitor.
This setup comes as Bitcoin's dominance flattens and traders eye high-cap altcoins. Historically, Cardano lags Bitcoin rallies before making sharp gains once liquidity flows back. If this rotation repeats and the wedge holds, ADA could become a top performer in the next cycle.
Saad Ullah
